Custer chronicle. [volume] (Custer City, Black Hills, D.T. [S.D.]) 1880-1890, 1887-07-30
Sale Of the Fairview.

The Fairview. n Of the best known
mines Of the Castle creek district, and
the best developed mine as well, yester-
day passed into possession Of the Castle
Creek Gold Mining company, in con-
sideration of $4,000 in cash and 5000
shares Of stock In the company paid to
the former owners, Messrs. Cockins,
Walters and Ofenbacher. The Fair
view is a mine which has been devel-
oped by shaft and tunnel to a depth OF
1873 feet. The ore body, which is cross
cut at that depth, is an extensive one,
and justly conceded to be the best that
has been shown up in that portion Of
the Hills. As development has pro-
crossed upon the mine through several
years past the ore taken out has been
subjected to careful test. and there is not
a shadow of doubt but that the entire
body may be milled at a profit, while
there is a four-foot streak, which, milled
alone, would yield a high return. This
streak can scarce be classed with the
"low grade ores" Of the Hills.
The gentleman who has brought
about the purchase Of the Fairview is
II. w. Gregg. we'll known in the Black
Hills as a practical mining man Of many
years experience. Mr.. Gregg's connec-
ton with the Castle country dates back
something more than q year, to the
time when he purchased a piece of gold
quartz property, known as the Basil
mine. HIS attention once directed to
the district, Mr.. Gregg made thorough
investigation until he was satisfied of
the value ofsome of its mining property,
and hence it purchase. Subsequent
developments upon the Basil justified
his confidence. Through his instru-
mentality a stock company known as
the Castle Creek Gold Mining company
was formed for the purpose of working
the Basil and other mines Of the dis
trict. His recent visit east was for the
purpose Of securing necessary money
for the purchase of the Fairview, which
lies contiguous, and in this he was en-
tirely successful, as indicated by the
purchase yesterday consummated. The
Fairyiew and the Basil will now be
consolidated in the ownership of the
company, the capital stock of which is
placed at 500, 0OO-l00,O 900 shares at one
dollar each.
1t may be said of this enterprise that
1t is not ~iliaugurated for the purpose of
stock gambling. 1t is a legitimate bust
ness venture. The money is in the
mines, from the mines it will be pro-
duced. A ten-stamp mill, belonging to
the company, is now located on Little
Rapid creek, a short distance below
Ross bar. The company has a valuable
water right, with bitches and fumes
carrying a sufficient head Of water TO
run the machinery of this mill, and in
consequence it will be possible to re-
duce the cost o fmilling to the minimum.
The location Of the mines is such az to
offer every possible natural facility for
cheap mining. Thus, with the excellent
prospects obtained from the ores and
the excellent management assured,
successful results may be anticipated
with confidence. It is a matter of con
graduation to the Castle creek country,
to the people who have long considered
1T one of the most promising mineral
districts of the Hills, and to the entire
Hills country. that an enterprise so
promising in every particular has been
~inaugurated. 1t is the intention of Mr..
Gregg to haye the stamps dropping in
side of forty days. The capital enlisted
is mainly from Wisconsin.--JournaI /.
Advancement.